Key investment firms join hands 
for acquisition of Hungry Bunny

The Hungry Bunny brand, which is owned by the Saudi businessman Mohamed bin Husain Al Dosary, is registered in the US, European Union, Middle East and the GCC states. The chain owns 38 branches which operate throughout Saudi Arabia, Kingdom of Bahrain, Kuwait and Sultanate of Oman under worldwide franchise agreements.

On this occasion, Arif Mohamed Al Alawi, Tharawat’s chief executive officer, said: “The 49 per cent acquisition of the Hungry Bunny has been completed with the participation of IIB, which is a Bahrain-based Shariah compliant bank, as a major shareholder in the acquisition transaction along with other GCC investors.” 
 Al Alawi stated: “The Hungry Bunny employs around 500 people and uses the most advanced technologies with 2011 sales totaling more than SR52 million and 18 per cent profit margin in that year”.

‘CASE Open Day’ to showcase equipment

Nass Commercial, a division of Nass Corporation and the sole distributor of CASE equipment and machinery in the kingdom of Bahrain, will be organising a “CASE Open Day”.

The event, which is scheduled to take place on March 14 between 10am-3pm at the Nass Commercial Service Centre in Sitra, will showcase the high quality range of CASE equioment featuring the telehandler, backhoe loader, wheel loader and skid steer.

Representatives of CASE from Turkey will be present at the event.

They will conduct live demonstrations and also provide visitors with the opportunity to see firsthand the outstanding performance and reliability of CASE equipment.

Batelco okays $95.5m cash dividends

Batelco Group, the regional telecommunications operator with operations across six countries, has held its Annual General Meeting (AGM) for the twelve-months to discuss proposed changes to Batelco’s Memorandum and Articles of Association.

The meeting, held at Hamala headquarters, was attended by shareholders, company directors, executive management, management, employees and members of the Press.

The meeting approved the recommendation of the board of directors for a full year cash dividend of BD36.0million ($95.5m), at a value of 25 fils per share, of which 15 fils per share was already paid during the third quarter of 2012 with the remaining 10 fils to be paid during the current month.

The meeting also saw shareholders pass the board’s recommendation for a 10 per cent bonus share issue, awarding one extra share for every 10 shares.

Business ventures with Turkish team discussed

Bahrain Chamber of Commerce and Industry (BCCI) Treasurer and Acting Chief Executive Officer, Othman Sharif Al Rayyes, received Bursa Industry and Business Association Chairman, Hasan epni, at Beit Al Tejjar and discussed promoting the role of the private sector in joint ventures.

He welcomed Turkish investments in Bahrain, stressing the Kingdom’s strategic geographic location and prime standing as a global banking and financial centre.

He outlined flexible economic and investment legislations in Bahrain, describing the Kingdom as gate to the GCC market and other countries in the region and key destination for foreign investments.

Bursa Industry and Business Association Chairman Hasan ‘epni also stressed his country’s keen interest in in bolstering economic relations with Bahrain, stressing the importance of the visit to explore joint investment opportunities.